The portion of your orthodontics cost that isn’t covered by your insurance company may be covered by your HSA account. Plus, since HSA money is untaxed, you can get even greater value from your HSA funds than you would from your typical checking or savings account!
If you’re wondering “does HSA cover orthodontics” or “how do I apply HSA funds to my treatment costs”, here’s everything you need to know to make the best decision for your smile – and your wallet.
HSA stands for Health Savings Account, which is a type of savings account that allows you to set money aside (pre-taxed) to be used for qualifying medical expenses. This money can then be withdrawn tax-free and dedicated toward healthcare deductibles, copays or out-of-pocket costs.
HSA funds are tax-deductible, tax-deferred and tax-free!
Since HSA money goes into your account untaxed and comes out of it untaxed, this allows you to get even greater value from your HSA funds than you would from your typical checking or savings account.
An FSA, which stands for Flexible Spending Account, is essentially a less-flexible version of an HSA. For example, FSA funds may not be able to roll over to the next year if benefits aren’t used by the end of the year. FSAs are also owned by your employer, whereas HSAs are personal savings accounts.
Orthodontic treatment with braces or Invisalign® clear aligners is not just for cosmetic benefits. While orthodontic treatment can and will improve your appearance and confidence drastically, it can also improve your quality of life and a number of major functions related to your teeth and jaw bones.
For example, orthodontic treatment can help widen the jaw bones and free blockages from the airways to improve breathing and sleeping quality. Some cases of sleep apnea can be treated with orthodontics alone. For many people, orthodontic treatment is medically necessary to improve their quality of life and can therefore be covered by HSAs.
Yes, unlike FSA accounts, all money in an HSA account rolls over to the next year. If you have a healthcare FSA from your employer that does roll over, you’ll only be able to carry over about $570 from your 2022 contributions to 2023.
If you have an FSA, it’s a good idea to use those funds before the year ends in order to receive the maximum benefit! We encourage you to request your complimentary exam with us to get the treatment process started and make the most out of your 2022 FSA!
The steps you’ll need to take to apply your HSA funds to your orthodontics costs will depend on your specific provider. However, there are a few common ways to access or redeem your savings.
With orthodontic HSA fund applications, you have options! In most cases, it’s up to you to decide how you want to apply your HSA funds in a way that’s most convenient for you.
At Just for Grins Orthodontics, we’re here to help in any way we can. We’re happy to discuss how you can apply your HSA to your orthodontics cost.
On your first visit to one of our orthodontist offices in Millbrook, Montgomery or Wetumpka, we’ll help you configure your costs and develop an affordable payment plan to cover your out-of-pocket expenses with your HSA.
Everyone deserves to have a smile that makes them proud – and a financial plan that makes them feel comfortable. If you have any questions, please don’t hesitate to reach out to us. Our team loves hearing from you!
And we mean it. Our patients are our top priority and we strive to go above and beyond your expectations. We don't just help you find your smile, we earn it.